The topic area of this bachelor thesis is the mitigation or resolution of the global financial and economic crisis. On the manifestation of its spread and extent, the significance of economic interconnectedness will be underlined. The analysis and the following comparison of the three frameworks will give a conception of issues that need to be addressed. The topic of this thesis was chosen because the reconsideration of policy options towards resolving the economic crisis is crucial. There is a need for a new path, a new economic model, which would stabilize the economy and later go on to heal the system in general. The goal of the thesis is to point out the significance of indebtedness and global interconnectedness. The thesis will reveal that unless the model of economic existence based on debt will not be changed, the economic system would not be able to function in a long-term. With regard to the factor of global interconnectedness the issue of the US dollar as a global currency will be also discussed. By means of the comparison of the three theoretical models: Keynesianism, Austerity and Systems Theory the thesis will emphasize that the ongoing global financial crisis is a systemic problem which cannot be solved with simple economic models. In order to resolve this global issue is not sufficient to recover the economy as such, but a global economic transformation is needed.